Analysts Set Tourmaline Bio, Inc. (NASDAQ:TRML) PT at $54.00

Shares of Tourmaline Bio, Inc. (NASDAQ:TRML - Get Free Report) have earned an average rating of "Buy" from the six ratings firms that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $54.00.

A number of research analysts recently commented on TRML shares. HC Wainwright reaffirmed a "buy" rating and issued a $49.00 price target on shares of Tourmaline Bio in a report on Wednesday, December 11th. BMO Capital Markets started coverage on shares of Tourmaline Bio in a report on Friday, December 6th. They issued an "outperform" rating and a $50.00 price target for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $25.00 price target on shares of Tourmaline Bio in a report on Wednesday, December 11th. Finally, Guggenheim reissued a "buy" rating on shares of Tourmaline Bio in a research note on Wednesday, December 11th.

Tourmaline Bio Stock Performance

Shares of TRML traded down $0.16 during midday trading on Wednesday, hitting $12.21. 218,404 shares of the company traded hands, compared to its average volume of 293,741. The firm has a 50 day moving average of $17.93 and a 200-day moving average of $20.87. Tourmaline Bio has a 52 week low of $12.12 and a 52 week high of $48.31. The stock has a market cap of $313.06 million, a price-to-earnings ratio of -4.33 and a beta of 2.32.

Hedge Funds Weigh In On Tourmaline Bio

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Tourmaline Bio by 6.4% during the third quarter. Geode Capital Management LLC now owns 482,078 shares of the company's stock worth $12,396,000 after acquiring an additional 29,005 shares during the period. Wellington Management Group LLP increased its position in shares of Tourmaline Bio by 72.8% during the third quarter. Wellington Management Group LLP now owns 65,741 shares of the company's stock worth $1,690,000 after acquiring an additional 27,707 shares during the period. State Street Corp increased its position in shares of Tourmaline Bio by 25.6% during the third quarter. State Street Corp now owns 411,980 shares of the company's stock worth $10,592,000 after acquiring an additional 83,949 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Tourmaline Bio by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 63,571 shares of the company's stock worth $1,634,000 after acquiring an additional 2,147 shares during the period. Finally, Barclays PLC increased its position in shares of Tourmaline Bio by 283.7% during the third quarter. Barclays PLC now owns 31,833 shares of the company's stock worth $819,000 after acquiring an additional 23,536 shares during the period. 91.89% of the stock is owned by hedge funds and other institutional investors.

About Tourmaline Bio

Tourmaline Bio, Inc operates as a clinical biotechnology company that develops medicines for patients with life-altering immune and inflammatory diseases. It develops TOUR006, a human anti-IL-6 monoclonal antibody that selectively binds to interleukin-6, a key proinflammatory cytokine involved in the pathogenesis of many autoimmune and inflammatory disorders.